Ingersoll-Rand (NYSE:IR) is down 13% in early market trading. The company reduced its full-year earnings and revenue on lower than expected demand in North American. The company now expects earnings of 77 cents to 80 cents a share on revenue of $3.9 billion to $3.95 billion, compared to its previous estimate of 85 cents to 95 cents on $4.05 billion to $4.15 billion.
Shares of Micron Technology (NASDAQ:MU) continue to slide in early trading. Yesterday, after the bell, the company reported a fiscal fourth-quarter loss of $135 million (14 cents per share), compared to a profit of $342 million (32 cents per share) last year. Don’t Miss: Your Cheat Sheet to Micron Technology Earnings.
Some of the biggest components in the Dow (NYSE:DIA) are down early. IBM Corp (NYSE:IBM) and Bank of America (NYSE:BAC) are down nearly 2% before the bell. IBM Corp is the Dow’s best performing stock year-to-date. High yielders such as Kraft Foods Inc. (NYSE:KFT) and McDonalds (NYSE:MCD) are fairing better in early trading. McDonalds is the second best performer in the Dow. The Dow Jones Indexes are a unit of News Corp (NASDAQ:NWS).
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